Per Millett LJ in Trustee of the Property of FC Jones v Jones (The case where the wife of a bankrupt paid money into a commodity broker firm and quadrupled it - she paid that money into a her bank deposit account. The trustee of the bankruptcy claimed this money.)
"In the present case equity has no role to play. the trustee must bring his claim at common law. It follows that, if he has to trace his money, he must rely on common law tracing rules, and that he has no proprietary remedy."
Could someone please help me understand what he meant here? Millett LJ then continues that the claim itself is exclusively proprietary. Thanks in advance!
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Equity and Trust - help! watch
- Thread Starter
- 08-01-2015 17:52